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Dial A For Awesome
May 23, 2009
There’s an article in today’s Guardian newspaper about someone who lost around £300,000 on crypto. They put money into a scheme that purportedly used AI to arbitrage using the price differences between different exchanges to earn 1% per day. They got tempted into increasing their modest initial investment up to £10,000. Then the scammers said if they invested another £100,000 they would receive a valuable (airdropped) token. Then - whoops - that amount was actually £200,000. After paying all that money, the victim discovered they can’t actually withdraw anything. And then - a few months later - the victim gets contacted by someone who says they can recover the original money in return for a £40,000 fee. Needless to say, the scammer then ran off with that as well.

Just astonishing.

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Lammasu
May 8, 2019

lawful Good Monster
How does someone that stupid get that much money?

I would blow Dane Cook
Dec 26, 2008
https://twitter.com/davidzmorris/status/1711704062645682442

Peanut Butler
Jul 25, 2003



Lammasu posted:

How does someone that stupid get that much money?

are you new to earth

Collateral Damage
Jun 13, 2009

Lammasu posted:

How does someone that stupid get that much money?
They're perfectly qualified for upper management.

Impossibly Perfect Sphere
Nov 6, 2002

They wasted Luanne on Lucky!

She could of have been so much more but the writers just didn't care!

Collateral Damage posted:

They're perfectly qualified for upper management.

https://www.theguardian.com/money/2023/oct/10/crypto-scam-finance-boss-fraudsters-savings

quote:

A senior manager at a UK investment firm has told how he was conned out of his £300,000 life savings by cryptocurrency scammers.


Also lol...

quote:

By July he had lost more than £300,000, some of which (about £60,000) was money he raised by borrowing on his mortgage, with a further £20,000 obtained via a loan from work which he intends to pay back over the next couple of years.

bort
Mar 13, 2003

What the article doesn’t go into, but needs to, is how he got that last 40k. He'd already tapped his mortgage and his company. I want to talk to that person.

notwithoutmyanus
Mar 17, 2009

Peanut Butler posted:

are you new to earth

He's just looking for the next 100x yolo investment. But he needs to add another 200k to unlock the investment opportunity.

Neito
Feb 18, 2009

😌Finally, an avatar the describes my love of tech❤️‍💻, my love of anime💖🎎, and why I'll never see a real girl 🙆‍♀️naked😭.

Lammasu posted:

How does someone that stupid get that much money?

Capitalism.

Zero One
Dec 30, 2004

HAIL TO THE VICTORS!
Today in court:

quote:


Ms. Ellison, 28, took the stand on the fifth day of Mr. Bankman-Fried’s trial on conspiracy and fraud charges stemming from FTX’s implosion. She began by taking more than 10 seconds to identify Mr. Bankman-Fried when a prosecutor asked her to point him out.

Then over roughly 15 minutes of initial testimony, Ms. Ellison repeatedly blamed Mr. Bankman-Fried, 31, for crimes that led to FTX’s implosion. She testified that he instructed her to draw from FTX customer funds to finance venture investments and loan repayments by Alameda Research, a crypto hedge fund that she oversaw for him. She said Alameda took around $14 billion, only some of which it was able to repay.

“He directed me to commit these crimes,” Ms. Ellison said, as Mr. Bankman-Fried sat across the room flanked by his lawyers.

Jamsque
May 31, 2009
SBF played the Prisoner's Dilemma with his closest friends and business partners, some of whom he was loving, and literally all of them immediately betrayed him. He has got to be one of the most terminally unlikable, uncharismaric people on the planet.

kw0134
Apr 19, 2003

I buy feet pics🍆

There has to be an upside to cooperation in a Prisoner's Dilemma that makes both of them better off but given the breadth of SBF's criming there is only a race to plea out before he drags everyone down with him.

Foo Diddley
Oct 29, 2011

cat
"betray" is literally the winning move in prisoner's dilemma, and if you don't get that then maybe "crime elemental" is a bad career choice for you

Random Stranger
Nov 27, 2009



Neito posted:

Capitalism.

It's the UK. The answer is more likely fuedalism followed by inertia.

cruft
Oct 25, 2007

Zero One posted:

Today in court:

10 seconds is a long time. I wonder what was going on in that 10 seconds. Was she just sitting there with her mouth open staring at a bench? Was she nervously picking lint off her clothes? Was she pointing in a wide arc across the courtroom until landing on SBF?

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

cruft posted:

10 seconds is a long time. I wonder what was going on in that 10 seconds. Was she just sitting there with her mouth open staring at a bench? Was she nervously picking lint off her clothes? Was she pointing in a wide arc across the courtroom until landing on SBF?

The other FTX person also took a long time to identify SBF. I have to assume that with a hair cut, suit, and several weeks of no shrimp he's barely recognisable.

dr_rat
Jun 4, 2001
He keeps running around when people try to point to him.

The legal loophole they don't want you to know!

Foo Diddley
Oct 29, 2011

cat
it's kind of like how you wouldn't recognize gallagher if he wasn't smashing watermelons and being racist, it's hard to tell that it's SBF if he's not committing a crime

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish
No, I do not see Sam Bankman Fried in this courtroom your honour! I see a sad, wretched husk of a man, cruelly robed of his god given right to crime!

Zero One
Dec 30, 2004

HAIL TO THE VICTORS!

quote:

Caroline Ellison testified about having an on-again, off-again romantic relationship with FTX founder Sam Bankman-Fried over the course of two years. She described Bankman-Fried as ambitious and interested in politics. Bankman-Fried said there was a 5% chance he would become president one day, Ellison testified.
How modest.

Foo Diddley
Oct 29, 2011

cat
i mean if you roll a 20 that's a crit, right

dr_rat
Jun 4, 2001
Judge: Do you see Mr. Bankman In the court today?
Witness: No, I just see Clark Kent, Investigative journalist for the Daily Globe your honor.
Judge: The defendant is asked to remove his glasses.

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...

Zero One posted:

How modest.

I mean the trial and conviction doesn’t change anything

Ariong
Jun 25, 2012

Get bashed, platonist!

cruft posted:

10 seconds is a long time. I wonder what was going on in that 10 seconds. Was she just sitting there with her mouth open staring at a bench? Was she nervously picking lint off her clothes? Was she pointing in a wide arc across the courtroom until landing on SBF?

This is the SBF they were used to seeing:



This is the SBF they saw:



Sam has been hardened by long nights with no shrimp and no ability to publicly admit to crimes from sweet young boy to grizzled inmate.

Impossibly Perfect Sphere
Nov 6, 2002

They wasted Luanne on Lucky!

She could of have been so much more but the writers just didn't care!

Zero One posted:

How modest.




thinking about those two loving and that "super breeders" article

(USER WAS PUT ON PROBATION FOR THIS POST)

Neito
Feb 18, 2009

😌Finally, an avatar the describes my love of tech❤️‍💻, my love of anime💖🎎, and why I'll never see a real girl 🙆‍♀️naked😭.

Impossibly Perfect Sphere posted:




thinking about those two loving and that "super breeders" article

The worst power couple in anime club.

RocketMermaid
Mar 30, 2004

My pronouns are She/Heir.


Bitcoin: Debate mini-tournament, Discussion about the Fermi paradox, swing dancing

RocketMermaid
Mar 30, 2004

My pronouns are She/Heir.


cruft posted:

Wait, sorry, congratulations on your purchase of a collectors item. In about 5 years, you'll be able to sell them to a crazy divorced man, living in a 1992 Corolla covered with stencil appliqués ranting about Ryan Cohen, and subsisting on canned beans.

I thought Neil Breen ate canned tuna.

LifeSunDeath
Jan 4, 2007

still gay rights and smoke weed every day

Impossibly Perfect Sphere posted:




thinking about those two loving and that "super breeders" article

she reminds me of one half of this killer couple I just saw on some youtube crime vid:

she helped her boyfriend kill his ex girlfriend.

SettingSun
Aug 10, 2013

Who the hell is getting together to discuss poo poo like the Fermi Paradox? That sounds like college coursework.

cruft
Oct 25, 2007

Impossibly Perfect Sphere posted:




thinking about those two loving and that "super breeders" article

They're both fine. Whatever. They're both clearly going for a look for a specific dating pool, and it seems to me that they both nailed it. Good on them: some people really struggle with this part of dating.

I don't think who they're sleeping with or how they present themselves needs to even be part of the discussion, since there's so much other horrible and outlandish poo poo to focus on. Like, I dunno, a random number generator used to pretend you're insured for some amount.

Impossibly Perfect Sphere
Nov 6, 2002

They wasted Luanne on Lucky!

She could of have been so much more but the writers just didn't care!

cruft posted:

They're both fine. Whatever. They're both clearly going for a look for a specific dating pool, and it seems to me that they both nailed it. Good on them: some people really struggle with this part of dating.

I don't think who they're sleeping with or how they present themselves needs to even be part of the discussion, since there's so much other horrible and outlandish poo poo to focus on. Like, I dunno, a random number generator used to pretend you're insured for some amount.

I disagree. Because these people were held up and presented as the most important innovators of the business world. And this is how they presented themselves.

titty_baby_
Nov 11, 2015

Impossibly Perfect Sphere posted:

I disagree. Because these people were held up and presented as the most important innovators of the business world. And this is how they presented themselves.

So what, you think he should've gotten a haircut and worn a suit?

Ariong
Jun 25, 2012

Get bashed, platonist!

I think that it is totally unfair BS to judge someone based on their ancestry, genetic traits, or appearance.

Hmm, wonder what Caroline Ellison thinks of that.

quote:

There’s a stereotype of racist people that they will assume any East Asian person speaks Chinese or something. I appreciate that HBD people are the exact opposite of that, and will make fun of you for saying something about ‘Indians’ without specifying province and caste because come on, the genetic differences there are massive.

Wow, turns out this mega-rich wannabe intellectual is a eugenicist. Whodathunkit!

drk
Jan 16, 2005

SettingSun posted:

Who the hell is getting together to discuss poo poo like the Fermi Paradox? That sounds like college coursework.

this guy on their staff page lists himself as an alum

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
they should be commended for taking the lunch money of a jock and cheerleader like tom brady and gisele like some Revenge of the Nerds reboot

Foo Diddley
Oct 29, 2011

cat

drk posted:

this guy on their staff page lists himself as an alum



you just told an AI to generate "the most insufferable gently caress", didn't you

GhostofJohnMuir
Aug 14, 2014

anime is not good
based on some of the stuff in michael lewis's book on sbf, i'm beginning to think that in addition to be a massive nerd con artist, he's also really loving stupid

excerpt from matt levine:

quote:

And in fact it seems like Bankman-Fried, maybe more than anybody else I’ve ever heard of, really did think that way. In March 2022, Tyler Cowen asked him:

COWEN: Should a Benthamite be risk-neutral with regard to social welfare?

BANKMAN-FRIED: Yes, that I feel very strongly about.

COWEN: Okay, but let’s say there’s a game: 51 percent, you double the Earth out somewhere else; 49 percent, it all disappears. Would you play that game? And would you keep on playing that, double or nothing?

And Bankman-Fried said yes! And Cowen went on:

COWEN: Then you keep on playing the game. So, what’s the chance we’re left with anything? Don’t I just St. Petersburg paradox you into nonexistence?

BANKMAN-FRIED: Well, not necessarily. Maybe you St. Petersburg paradox into an enormously valuable existence. That’s the other option.

That’s insane! You keep flipping a slightly weighted coin. Every time it comes up heads, the population of humans in the universe doubles. If it comes up tails once, every human in the universe is dead forever. How many times would you flip? Bankman-Fried’s answer was … as many times as it takes to kill everyone? Okay! Great! Nice utilitarianism you’ve got there.

I mean whatever, it’s a weird hypothetical. But a related question for Bankman-Fried, in March 2022, would have been: “If you have a 1% chance of making a trillion dollars and a 99% chance of going bankrupt and spending the rest of your life in prison, would you take that bet?” Let us assume that that bet has a positive expected value, that having a trillion dollars to spend on pandemic preparedness and AI alignment and politics and whatever adds more than 100 times as much utility to the world as sending you to prison forever subtracts. Would you do it?

Nobody asked Bankman-Fried that exact question in March 2022, as far as I know, but it turns out that that was the game he was playing. He was almost certainly going to lose! He lost. But that’s life with a linear utility function.

this is what peak rationality looks like

cruft
Oct 25, 2007

Ariong posted:

I think that it is totally unfair BS to judge someone based on their ancestry, genetic traits, or appearance.

Hmm, wonder what Caroline Ellison thinks of that.

:wtc:

Wow, turns out this mega-rich wannabe intellectual is a eugenicist. Whodathunkit!

See, this right here, this is a 100% justifiable, defensible, and dare I even say, noble, reason to hate on somebody.

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chutwig
May 28, 2001

BURLAP SATCHEL OF CRACKERJACKS

GhostofJohnMuir posted:

based on some of the stuff in michael lewis's book on sbf, i'm beginning to think that in addition to be a massive nerd con artist, he's also really loving stupid

excerpt from matt levine:

this is what peak rationality looks like

I worked for Bloomberg for 6 years, never read Matt Levine once. Now I don't work there and I pay for a subscription mainly for his newsletters.

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